Source: Paras Griffin / Getty
Hip-hop billionaire Diddy is using his inflated bank account to help others.
The New York native was busy headlining Invest Fest — a gathering dedicated to financial literacy– in Atlanta this weekend.
Diddy’s known for his grand gestures and continued that trend by announcing he’d be making a $1 million investment fund partnership alongside Earn Your Leisure. Better known as EYL, the tandem was founded by Rashad Bilal and Troy Millings, who created Invest Fest and are the brains behind the EYL podcast.
The funds will go toward financial literacy efforts that put “the investment strategies discussed on EYL into action” and offer “a practical model for economic empowerment,” states the press release.
When Diddy handed over the oversized check, he also announced that some of the fund’s money would help his Capital Preparatory charter schools, which currently stand at three and are all in the tristate area.
He assures Bilal and Millings that while his half of the money will benefit his schools, including one in his hometown of Harlem, he advises them to invest the rest in whatever they want.
“I’m thrilled to join forces with Earn Your Leisure,” Diddy said per TMZ. “We’re going beyond discussing finances and taking action to demystify the world of investing for our community.”
Diddy was in a giving mood this week, and his next beneficiary was an HBCU. He made his way to the South Carolina State versus Jackson State University game as college football season kicked off with full pockets.
His Sean Combs Foundation presented Jackson State’s football team with $1 million, with the hopes of the money aiding in “fostering economic empowerment and upholding the legacies of historically Black institutions.”
As a Howard University graduate, Diddy understands the importance of fostering Black higher education and sees it as his duty to help those communities who need it most.
